CandleFocus Scam Alert: Hackers Burn Tokens In Wallets, Here's How to Avoid It
2024-09-09
Author: Content Editor
Scammers in the Solana ecosystem are exploiting a functional token feature to burn tokens from users' wallets. The scam involves tokens being successfully exchanged but then disappearing from the wallet. It has been discovered that scammers are purposefully burning the tokens just seconds after they are received, using the authorized address feature meant for legal purposes. Some platforms have implemented warnings for tokens with this feature enabled, but not all exchanges and wallets have these safeguards. Users are advised to check their transaction details and use platforms that actively monitor and address this issue to avoid falling victim to the scam.
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